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UK properties lure Mideast investors
DUBAI — A number of investors from the Middle East have bought UK properties that guarantee a 15 per cent rental return over two years on the purchase price, according to Imagine Homes, a Gulf-based property broker and manager.
In a statement, Imagine Homes claimed yesterday that it has sold million of dirhams worth of property at Dubai's International Property Show and at the Real Estate & Investment Show, in Abu Dhabi.
"Many Gulf residents and expatriates are looking for guaranteed, long-term investment footholds that markets like the UK provide," said Grant Bovey, CEO of Imagine Homes.
The company's director for international business development, Alan Wheatley, said: "We understand that the regional investor is becoming more discerning and looking for alternative opportunities to build international portfolios."
He stressed that investing in the UK, one of the world's most stable economic environments, "gives immense peace of mind", especially if done through Imagine Homes.
He said the company also manages the maintenance, furnishing and tenancy of all its properties, "with the added security of having a safety net of a guaranteed 15 per cent return of the property value for the first two years".
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